unit 1

VALUES.

WHAT ARE VALUES?

The word ‘value’ is derived from a French word, ‘Valoir’ which means the worth, merit, usefulness or importance of a thing.

Values are prescriptive belief which depicts what is good and what is bad.

VALUE

All port described a value as “a belief upon which one acts by preference.” When we place importance on something that we cherish we are valuing that trait, ideal, or characteristic.

Values describe what managers try to achieve through work and how to behave.

Values as the highest psychological form for

accomplishment. Data are mental facts derived from

sense observation. Information is data organized by the

physical mind into meaningful relationships.

Thoughts are specific conclusions or observations drawn from the information.

Ideas are generalized conceptions derived from specific thoughts.

Opinions are thoughts which the mind endorses and the ego identifies as its own.

Beliefs are ideas which the mind endorses and the mental ego identifies with as true for its life.

Attitudes are opinions endorsed and energized by the vital ego.

Values are idealized conceptions that are endorsed by the personality.

Values are the core of personality and are a powerful force affecting behaviour.

Values contain a judgmental element in that they carry an individual’s ideas as to what is right or wrong.

Values are not fixed, they change over time.

FEATURES OF VALUES

Values have both content and intensity attributes. The content attribute indicates that a mode of conduct of existence is important. The intensity attributes specifies how important it is.

Many values are relatively stable and enduring.

Genetic source Environmental source Influence of superiors Media

Values describe what managers try to achieve through work and how to behave.

VALUE FORMULATION

ORGANIZATIONAL VALUES.

-- Sears' commitment to trusting the customer.

-- Apple Computer's belief in the values of solving problems of society.

-- Marriott's values of systemization and standardization.

DO YOU UNDERSTAND?

VALUES AND GOALS STATEMENT

Businesses and other organizations develop strategic plans in which they list out their goals and values.

E.g., one company indicated, "Provide growth opportunities for our employees. Create economic value for our customers and shareholders. Return value to the communities we serve."

SUMMARY OF VALUES IN COMPANY

The greatest potentials for the growth of any company are generated by a commitment to high corporate values.

By values, we mean the qualitative goals which the company strives to achieve in all its activities.

Values release and direct energy, motivate people, generate profits and promote non-stop expansion.

Cont…

Values are the key to energizing the five growth engines of a company; market, products & services, organization, people, and finance.

Values raise the quality of corporate energies and elevate work to a higher level.

There are three types of values-physical, organization and psychological-which differ in the level and intensity of the energy they release.

UTILITY OF VALUES IN BUSINESS:

Values release energy because they motivate people.

Values motivate people to work together collectively.

Values are like ever-receding or never-ending goals. The higher the values, the more the energy and effort required to achieve and sustain them. The more you pursue them, the greater the energy they release and put into action.

Cont… Quality of performance on every job,

every activity, and every act can be accurately assessed in terms of values.

Companies which rated their implementation of key corporate values the highest also reported the highest levels of revenue growth and profitability in their respective industries.

Improving corporate performance on a single value can virtually transform the way a company functions.

Cont… Values are the most powerful way to

release and harness the company's latent, unutilized energies for growth.

DEFINITION OF BUSINESS VALUES.

Values are the operational qualities that companies seek to achieve or maintain in their performance.

By values, we mean the qualitative goals which the company strives to achieve in all its activities.

DEFINITION OF VALUES FOR COMPANY-

A value is a belief, a mission, or a philosophy that is really meaningful to the company. An example of a business value is: "Customer Satisfaction." Another example of a value is "Being Ethical and Truthful." Every company has one or more values, whether they are consciously aware of it or not. Another way of saying it is that a value is a statement of the company's intention and commitment to achieve a high level of performance on a specific QUALITATIVE factor.

Values Reflect Highest Thought. Pursuit of Ideal.

Values In Company- Leads to Success.

Values the Heart of the Corporate Personality.

The Psychic Center of the Company. The Soul of a Business is Its Values

STEPS TO IMPLEMENT AND INSTITUTIONALIZE VALUES.

Selection. Commitment.

Standards. Structure.

Jobs, Activities and System. Employee Responsibilities.

Skills.

SOME VALUES. Accomplishment,

Success Accountability Accuracy Adventure All for one & one for all Beauty Calm, quietude, peace Challenge Change

Charity Cleanliness, orderliness Collaboration Commitment Communication Community Competence Competition Concern for others….

These are personal convictions about life-long goals (terminal values) and modes of conduct (instrumental values).

TYPES OF VALUES

TERMINAL VALUE

Terminal Values refer to desirable end-states of existence. These are the goals that a person would like to achieve during his or her lifetime. These values vary among different groups of people in different cultures.The terminal values in RVS are:

True Friendship Mature Love Self-Respect Happiness Inner Harmony Equality Freedom Pleasure An Exciting Life

Social Recognition Wisdom Salvation Family Security National Security A Sense of

Accomplishment A World of Beauty A Comfortable Life

TERMINAL VALUES

Instrumental Values refer to preferable modes of behavior. These are preferable modes of behavior, or means of achieving the terminal values

Instrumental Values are core values, permanent in nature, comprise personal characteristics and character traits

INSTRUMENTAL VALUES

Cheerfulness Ambition Love Cleanliness Self-Control Capability Courage Politeness Honesty

Imagination Independence Intellect Broad-Mindedness Logic Obedience Helpfulness Responsibility Forgiveness

INSTRUMENTAL VALUES

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Figure 3.4

Source: Rokeach, The Nature of Human Values (New York: Free Press, 1973).

Terminal and Instrumental

Values

• Personal values:These are considered essential principles on which we build our life and guide us to relate with other people. They are usually a blend of family values and social-cultural values, together with our own individual ones, according to our experiences.

• Family values:These are valued in a family and iare considered either good or bad. These derive from the fundamental beliefs of the parents, who use them to educate their children. They are the basic principles and guidelines of our initial behavior in society, and are conveyed through our behaviors in the family, from the simplest to the most complex.

• Social-cultural values:These are the prevailing values of our society, which change with time, and either coincide or not with our family or personal values. They constitute a complex mix of different values, and at times they contradict one another, or pose a dilemma.

For example, if work isn’t valued socially as a means of personal fulfillment, then the society is indirectly fostering “anti-values” like dishonesty, irresponsibility, or crime.

Another example of the dilemmas that social-cultural values may pose is when they promote the idea that “the end justifies the means”. With this as a pretext, terrorists and arbitrary rulers justify violence, intolerance, and lies while claiming that their true goal is peace.

• Material values:These values allow us to survive, and are related to our basic needs as human beings, such as food and clothing and protection from the environment. They are fundamental needs, part of the complex web that is created between personal, family and social-cultural values. If exaggerated, material values can be in contradiction with spiritual values.

• Spiritual values:They refer to the importance we give to non-material aspects in our lives. They are part of our human needs and allow us to feel fulfilled. They add meaning and foundation to our life, as do religious beliefs.

• Moral values:The attitudes and behaviors that a society considers essential for coexistence, order, and general well being.

THE FACTORS THAT INFLUENCE BELIEFS AND VALUES (IDEOLOGY)

THERE ARE SEVERAL FACTORS THAT INFLUENCE INDIVIDUAL AND COLLECTIVE BELIEFS AND VALUES

Culture/language Media Relationship to land Environment Gender Religion/spirituality Family

CULTURE/LANGUAGE

RELIGION AND SPIRTUALITY

RELIGIOUS GROUPS

Value priorities often developed through religious training Religious doctrine Role models

Many now seeking spiritual and moral anchors in both personal lives and work

ENVIRONMENT/RELATIONSHIP TO LAND

MEDIA

MEDIA

Viewers often see people abusing and degrading each other

without consequences violence and antisocial behavior

Research connecting television viewing and depression desensitization of children

FAMILY

Parents assume many roles Most important role is moral teacher Challenges to families:

single-parent households two parents working outside the home care for elderly parents financial pressures

SCHOOLS

Some see character education as fundamental aspect of education

Values clarification common part of curriculum in 70s

Objections and fears about imposing values, so much was eliminated

Resurgence in the movement today

PEOPLE WE ADMIRE

Modeling is shaping behavior to be like people you admire

Important for children and adults Leaders in the workplace are important

models for adults

Disha Thanai <[email protected]>;Disha Thanai <[email protected]>;

CORE VALUES OF MANAGER

Managerial activities can change as the organizations and their environment change.

The managers responsibilities have increased as more tasks have been outsourced on them, at the same time they have been stripped of some of their support functions and assistants.

Indian managers are moving away from the concept of values and ethics. The lure for maximizing profit is deviating them from the value based managerial behaviour. There is a need for our managers today both in private and public sectors to develop a set of values and believes that will help them attain the ultimate goals of profits and survival and growth. They need to develop the following values:

Optimum utilization of resources Attitude towards work Managers have to develop the visionary

perspective in their work. They have to develop a sense of larger vision in their work for the common good.

Work commitment Vision Managers have a long term vision. The visionary

managers must be practical,dynamic and capable of translating dreams in to reality.

MANAGER VALUES

Leads by example – models the standards set and has respect for the team.

Accessible and visible to team members. Walks around the department/section. Takes time for personal contact. Takes an interest in staff as individuals and listens to their concerns.

Takes the flak when mistakes are made. Is fully accountable for the actions of people who report directly to them.

CONT……

4. Is prepared to admit when wrong and change own behavior. Is not afraid to say sorry. Actively seeks out development opportunities for people who report directly to them and seeks their input.

5. Understands different needs and

motivations of individuals and adapts own style to suit person and situation.

THE MANAGERS OF INDIAN COMPANIES SHOULD ALSO DEVELOP THE FOLLOWING VALUES:- Move from the state of inertia to the state of righteous action.

Move from the state of faithlessness to the state of faith and self-confidence.

Move from unethical actions to ethical actions.

Move from untruth to truth.

VALUES OF WESTERN MANAGER

Western managers are highly professionals with excellent analysis power, high professional education and specialization.

Western managers follows a proper code of conduct and work in the structured formal atmosphere with no place of modesty in their behavior.

Professional efficiency and work disciplines are the conditions under which western managers perform.

They consider rules as sacred in their value system. Western value system teaches contractual obligations.

Managers honour their contracts. Western managers value principles above its privilege and

they consider this as the best strategy to win

CONCLUSION

For years conventional wisdom suggested that people do not leave companies, but rather they leave because of bad business management also known as bad managers. Poor business management practices are more related to the problem of poor business ethics or values than to the common symptoms such as poor delegation or poor communication. Every organization, no matter size, should have a written business values statement of non-negotiable behaviors that will be demonstrated by everyone. Each employee from top down needs to consistently demonstrate the same values and ethics. Inconsistent values from managers can dramatically affect employee motivation and ultimately employee performance

MEANING

Greek word ETHIKOS Means CHARACTER Study of Behaviour and values

ETHICS Ethics is the study of Behaviour What is Good and What is Wrong Branch of Philosophy Science of morals

You need to be more and more selfless

Action as per standards-Ethical Not as per standards –Un Ethical Actions which are law ful may not

be ethical Eg.,Drinking alcohol

Differentiate Human Beings from Animals

ORIGIN

What is Right and what is wrong

Rules by society =Ethics

From Olden Days

ORIGIN IN INDIA

Bhagawad Gita VEDAS Upanishads Neeti shatra by chanakya Vedanta

ORIGIN IN WEST Socrates(469-399BC)

Plato(427-347BC)

Aristotle(384-322BC)

ETHICAL OR UNETHICAL ?

• Laying of employees after assuyring no layoffs

• Operating cancer treatment centre with tobacco company

DIFFERENCESMorals Ethics

Latin word “MOS”

Social in Nature

Based on Customs

Accepted by religious/cultural institutions

General principles(Friends & Family)

Narrow Scope

Greek word “Ethikos”

Personal in Nature

Based on Personal Aspects

Personally accepted

Personal principles(own)

Wider scope

RELIGION VS ETHICS

VS

ETHICS VS LAW

GOLDEN RULE OF ETHICS

FUNDAMENTAL PRINCIPLES OF ETHICS INTEGRITY OBJECTIVITY CONFIDENTIALITY PROFESSIONAL COMPETENCE AND DUE

CARE PROFESSIONAL BEHAVIOUR

ETHICS UNIVERSAL/CONSTANT? Ethical principles are some thing we follow

regularly in our life Some principles are universal.

Right WrongHonesty Lying

Reliability Cheating

Mutual respect Stealing

Nonviolence

EXCEPTIONS

a.Thief breaks in to your homeWill you tell truth?b.Can a doctor reveal the seriousillness to patients

Many Ethical values have changed basing on changes in society and time

Eg:Abortion-Immoral but not nowChild marriage,sati,untouchability,caste Ethical values different in many culturesEg:Polygamy,using ornaments

Morality based on Personal perception

Which is good for some one may not be good for some one else

Eg:Terrorism Western culture

BRANCHES OF ETHICS Meta Ethics-Studies meaning

Normative Ethics-Gives prescription

Applied Ethics-Use of Ethics Eg:Medical ethics,legal Ethics,A&F Ethics,Environmental Ethics,Business Ethicsetc.,

NATURE OF ETHICS

Standards of Behavior tells us how to behave Not same as Feelings Feelings-Personal Ethics is not religion but it is advocated by religion Ethics is not law but law contains ethics Vary from society to society Ethics is not science

WHY ETHICS DIFFICULT TO UNDERSTAND? Though it is common in daily life

Difficulty a.Base for Ethical standards? b.How can we apply these standards? Application based on demand of the

situation

SOURCES TO ETHICAL STANDARDS

5 major sources 1.Utilitarian Approach 2.Rights/Deontological Approach 3.Fairness Apprroach 4.Common Good Approach 5.Virtue Approach

UTILITARIAN APPROACH Do more good do less harm Produce balance between good

and harm Deals with consequences

RIGHTS APPROACH

Ethical action is which that protects and respects the moral rights who got affected

Based on Human Dignity gives ability to choose freely,what they do with their lives

Eg:Ten commandments

FAIRNESS APPROACH

Aristotle contributed this idea TREAT ALL HUMAN BEINGS EQUALLY

COMMON GOOD APPROACH

Life is good in itself,and our actions contributed to that life

Relationship based on Ethical reasoning Calls common conditions for welfare of

Every one System of law,Effective

Enforcement,Educational system or even public relational areas

VIRTUE APPROACH

Ancient Approach Ethical actions consistent with some

ideal virtues(Beliefs) Honesty,Courage,Compassion Generosity,Tolerance, Fidelity,Self control“WHAT KIND OF PERSON WILL I BECOME IF I DO

THIS”

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BUSINESS ETHICS

Application of Every day moral or Ethical norms to Business

Being Ethical requires acting with awareness of how

• Products and Services• Actions of Employees• Stake holder and society

• Code of conduct for doing Business

• Unite in common pursuit of justice –Mahatma Gandhi

• Truthfulness in Business,conduct reflection of their country

NEED Application of Ethics in Business

Authority to use Natural Resources

Engaged in Social Contract

Business man-Trustee

Major Emphasis on CSR

Responsible for Share holders and Stake holders

Ethics in Companys –MISSION Statement

Profit Maximisation to Wealth Maximisation

ETHICAL INFLUENCE ON BUSINESSAreas of Business Ethical Practice

Plant location Environment Impact

Product Pollution

Purchase & Storage No hoarding of finished goods

Transportation Safety Regulations

Advertising Realistic Claims

Finance Appreciation of Capital

Personnel Equitable treatment

BENEFITS OF FOLLOWING BUSINESS ETHICS Easier change management Strong team work and productivity Enhanced Employee growth Guarantee that personnel policies are

legal Helps to detect violations easily Helps to manage values associated with

quality management, strategic planning

ETHICAL DILEMMAS

Dilemma means Confusion Ethical dilemma: Eg; Rama o

Obey or Rule kingdom

Arises When there are Alternatives

ETHICAL DILEMMAS IN BUSINESS Only few issues are straight forward

In many cases conflicts with out clear option

Arises to manager to decide between i)Right and wrong ii)Right & Right

In finding solutions business man face Ethical dilemmas

Most often business interests conflict with moral values

Eg., Bribe Or a means of sales promotion

GUIDELINES TO HANDLE ETHICAL DILEMMA Define problems clearly Stood on the other side of the fence How did the situations arise? Intention in making that decision Who will injure by your decision? What is probable results of the decision? Can you discuss with affected parties before decision? Symbolic potential of your action, if understood or

misunderstood? Exceptions to your stand?

WHY ETHICAL PRACTICES?

SLIPS-R1. Self Interest2. Reward Motive3. Social Pressure4. Legal Need5. Consistent with profit Motive6. Image7. Payback Principle

GOI EFFORTS TO ENSURE ETHICAL BEHAVIOUR

ACB and CBI Vigilance Commission Right to Information Act Public Interest Litigation Transparency Ombudsman

INSTITUTIONALIZING BUSINESS ETHICS Code of Ethics Compliance officer Ethics committee Teaching in MDP’s ombudsman

WHAT IS DECISION MAKING

Decision making is a process of selecting the best among the different alternatives. It is the act of making a choice. There are so many alternatives found in the organization and departments. Decision making is defined as the selection of choice of one best alternative. Before making decisions all alternatives should be evaluated from which advantages and disadvantages are known. It helps to make the best decisions. It is also one of the important functions of management. Without other management functions such as planning, Organizing, directing, controlling, staffing can’t be conducted because in this managerial function decision is very important.

IMPORTANCE OF DECISION MAKING

1. Implementation of managerial function: Without decision making different managerial function such as planning, organizing, directing, controlling, staffing can’t be conducted. In other words, when an employee does, s/he does the work through decision making function. Therefore, we can say that decision is important element to implement the managerial function

2. Pervasiveness of decision making: the decision is made in all managerial activities and in all functions of the organization. It must be taken by all staff. Without decision making any kinds of function is not possible. So it is pervasive.

3. Evaluation of managerial performance: Decisions can evaluate managerial performance. When decision is correct it is understood that the manager is qualified, able and efficient. When the decision is wrong, it is understood that the manager is disqualified. So decision making evaluate the managerial performance

4. Helpful in planning and policies: Any policy or plan is established through decision making. Without decision making, no plans and policies are performed. In the process of making plans, appropriate decisions must be made from so many alternatives. Therefore decision making is an important process which is helpful in planning.

5. Selecting the best alternatives: Decision making is the

process of selecting the best alternatives. It is necessary in every organization because there are many alternatives. So decision makers evaluate various advantages and disadvantages of every alternative and select the best alternative.

6. Successful; operation of business: Every individual, departments and organization make the decisions. In this competitive world; organization can exist when the correct and appropriate decisions are made. Therefore

correct decisions help in successful operation of business

Step 1: Identify the decision to be made. You realize that a decision must be made. You then go through an internal process of trying to define clearly the nature of the decision you must make. This first step is a very important one.

Step 2: Gather relevant information. Most decisions require collecting pertinent information. The real trick in this step is to know what information is needed, the best sources of this information, and how to go about getting it. Some information must be sought from within yourself through a process of self-assessment; other information must be sought from outside yourself-from books, people, and a variety of other sources. This step, therefore, involves both internal and external “work”.

Step 3: Identify alternatives. Through the process of collecting information you will probably identify several possible paths of action, or alternatives. You may also use your imagination and information to construct new alternatives. In this step of the decision-making process, you will list all possible and desirable alternatives.

Step 4: Weigh evidence. In this step, you draw on your information and emotions to imagine what it would be like if you carried out each of the alternatives to the end. You must evaluate whether the need identified in Step 1 would be helped or solved through the use of each alternative. In going through this difficult internal process, you begin to favor certain alternatives which appear to have higher potential for reaching your goal. Eventually you are able to place the alternatives in priority order, based upon your own value system.

Step 5: Choose among alternatives. Once you have weighed all the evidence, you are ready to select the alternative which seems to be best suited to you. You may even choose a combination of alternatives. Your choice in Step 5 may very likely be the same or similar to the alternative you placed at the top of your list at the end of Step 4.

Step 6: Take action. You now take some positive action which begins to implement the alternative you chose in Step 5.

Step 7: Review decision and consequences. In the last step you experience the results of your decision and evaluate whether or not it has “solved” the need you identified in Step 1. If it has, you may stay with this decision for some period of time. If the decision has not resolved the identified need, you may repeat certain steps of the process in order to make a new decision. You may, for example, gather more detailed or somewhat different information or discover additional alternatives on which to base your decision.

ETHICAL DECISION MAKING

Ethical decision making involves taking into consideration eithical issues at various stages of decision making process. The basic steps involved in ethical decision making are same as in normal decision making process.but in every step ethical aspect is given due consideration. This approach is called PLUS approach which take cares of

P = PoliciesIs it consistent with my organization's policies, procedures and guidelines?

L= LegalIs it acceptable under the applicable laws and regulations?

U = UniversalDoes it conform to the universal principles/values my organization has adopted?

S= SelfDoes it satisfy my personal definition of right, good and fair?

PLUS PRESUMES EFFECTIVE COMMUNICATION WITH ALL EMPLOYEES SO THERE IS A COMMON UNDERSTANDING OF: PLUS presumes effective communication with all

employees so there is a common understanding of: the organization's policies and procedures as they

apply to the situation. the applicable laws and regulations. the agreed to set of "universal" values - in this

case Empathy, Patience, Integrity, Courage (EPIC) the individual's sense of right, fair and good

springing from their personal values set.

The PLUS filters work as an integral part of steps 1, 3 and 6 of the decision making process. The decision maker applies the four PLUS filters to determine if the ethical component(s) of the decision are being surfaced/addressed/satisfied.

Step 1 Define the problem (PLUS surface the ethical issues) Does the existing situation violate any of the PLUS

considerations? Step 2

Identify available alternative solutions to the problem Step 3

Evaluate the identified alternatives (PLUS assess their ethical impact)

Will the alternative I am considering resolve the PLUS violations? Will the alternative being considered create any new PLUS

considerations? Are the ethical trade-offs acceptable?

Step 4 Make the decision

Step 5 Implement the decision

Step 6 Evaluate the decision (PLUS surface any remaining/new

ethical issues) Does the resultant situation resolve the earlier PLUS

considerations? Are there any new PLUS considerations to be addressed

RELEVANCE OF ETHICS AND VALUE

Wednesday, April 19, 2023Business ethics/ Dr. Pooja Sharma

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IMPORTANCE OF ETHICS AND MORAL STANDARDS


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IMPORTANCE OF ETHICS IN BUSINESS

Ethical behavior is essential for long term success in business, both from micro and macro perspective.


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The market system leads to a more efficient way of allocating resources and the conditions required are:

1. The right to own and control private property.

2. Freedom of choice in buying and selling goods and services.

3. The availability of perfect information regarding these goods and services.


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Bribery – reduces freedom of choice by changing the conditions under which the decision is made. Greater appeal is created by enhancing the personal gain associated with the choice by addition of unearned income.

Coercive acts – threats that prevent a seller from dealing with certain customers.

MACRO PERSPECTIVE – UNETHICAL BEHAVIOR


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Deceptive information – creates false impressions and leads buyers to select goods and services that provide less satisfaction. Delivering products and services below the promised quality also distorts the system.

Theft – losses due to theft may be made up via larger profit margins that increase prices.


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Unfair discrimination – results in the purchase of services from less capable people or sale to less capable people.


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Ethics is closely associated with trust. In order to develop trust, behavior must be ethical.

Trust in a business setting reduces costs, makes life more pleasant and improves efficiency.

MACRO PERSPECTIVE – ETHICS AND TRUST


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Two norms are to be honored in all situations:

1. Commitments are to be honored in almost all situations.

2. One ought to produce a good product and stand by it.


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Trust involves three fundamental elements –

Predictability Dependability Faith

Need for trust arises when one faces some type of risk. Thus trust, is a risk reducing mechanism.


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1. Trust in supplier relations – purchases move from a series of discrete transactions to an on going buyer seller relationship which is called an exchange relationship, which is based on trust between both parties that each will honor his commitments.

2. It also provides several benefits to the buyer. The buyer gets a dependable source of supply, during the period of shortages also.


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2. Trust in customer relations – a salesman earn customer’s trust by being dependable, honest, competent and customer oriented.

Customers who trust suppliers are more likely to stay with them.


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3. Trust in employee relations – a climate of trust provides:

Improved communication Greater predictability Dependability and confidence among

employees Reduction in employee turnover Openness and willingness to listen and

accept criticism Reduction of friction among employees


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The following factors promote trust:

Open communications Giving workers a greater share in decision

making. Sharing of critical information Trust based sharing of perceptions and

feelings


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Business ethics is the process of evaluating decisions, either pre or post, with respect to the moral standards of society’s culture.

Moral norms prohibit certain types of behaviour such as lying, stealing and killing.

Moral principles provide more general guidelines for behaviour and are applicable to decision situations.


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Values should be in alignment with the business goals, and mission and vision statements, otherwise there is bound to be organizational conflict.

Values will also help you in finding your purpose in life.

Values lay the foundation for the understanding of perception, attitudes and motivation of people.

IMPORTANCE OF VALUES IN BUSINESS


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Values help you get and stay motivated.

Values relate to our purpose in life and are used as guiding principles, to make your life easier.

Values provide you with a strong foundation; a method for living your life to it’s fullest.

unit 1

Documents

features of values values

types of values

utility of values

high corporate values

word value

economic value

company market

physical mind